EUR/USD Daily Forecast - 16 March

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Friday, Mar 16 2018

EUR/USD Daily Forecast - 16 March

Euro spent yesterday's session in a decline going all the way to 1.23 handle around which it finished the session. Decline was mostly caused by much better than forecasted US figures, and with no major data releases from Eurozone tomorrow, focus will again be on US data. Any type of supportive candles around 1.2260 and 1.2230 area would be short-term buying signal, while resistive candles above 1.2350 and 1.2380 level would be short-term selling opportunity.

In long-term trends, we would be buyers for this pair, despite this pullback. We expect plenty of support around 1.15 handle, and next major resistive point above 1.25 handle.

More in this category: « GBP/USD Daily Forecast - 16 March AUD/USD Daily Forecast - 21 March »

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